Chile Economic Activity November 2020

Chile

Chile: Economic activity expands for first time in nine months in November

January 4, 2021

In November, the IMACEC economic activity index rose 0.3% on an annual basis, following a 1.2% contraction in October and marking the best reading since February.

November’s uptick reflected a 0.4% increase in the non-mining economy (October: -1.5% yoy), driven by expansions in activity in the trade and manufacturing sector partially offset by a decline in the services sector. Meanwhile, the mining economy dipped 1.1%, contrasting October’s 1.6% rise.

In month-on-month seasonally-adjusted terms, economic activity expanded 1.1% in November (October: -0.5% month-on-month seasonally-adjusted).

FocusEconomics panelists project the economy to expand 4.8% in 2021, which is unchanged from last month’s forecast, and 3.4% in 2022.


Author: Massimo Bassetti, Senior Economist

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Chile Economic Activity November 20 20

Note: Year-on-year changes and annual average growth rate in %.
Source: Chile Central Bank (BCC) and FocusEconomics calculations.


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